Speaking before squeezed by massive bills, there is still Spending Power out there. A lot of our customers are probably a bit older, so we dont feel the mortgage rate, although it creates uncertainty for them and that does and we do notice when there is a rate rise, everyone gets a bitjittery. Does it feel like we are getting green shoots . I dont feel that there is green shoots, no, no. I dont feel that there is green shoots, no, no. I feel we are in a holding pattern. It could go either way. Today, the Bank Of England said the tough medicine was beginning to work. Less tha n less than two years they have over 14 steps raised Interest Rates to the highest level in 15 years in an attempt to drain Spending Powerfrom the Spending Power from the economy. The period of near zero Interest Rates now consigned to history with the bank warning that rates could remain at this level for some time. If you asked the question, yes, and when are rates going to come down . My answer is we are going t
my answer is we are going to need much more solid evidence that inflation is going to come down, and i mean that people can rely on it. the housing market correction may have started already? i don t know what your view is on that? yes, we are seeing someadjustment in the housing market. an adjustment? prices are not coming off their peak but we should avoid preaching crisis at this point. it is not that. at the law courts in salisbury, steve is arriving at a possession hearing. we are here today to see whether in two week s time i am living on the streets. january last year, my mortgage payment was £1264 and i have been paying that amount for the last ten years. my mortgage today is £4501 per month. the judge agreed with the bank to repossess the house, citing the mortgage s unaffordability after those recent rate rises.
to their highest level in 14 years, attempting to drain spending powerfrom the economy, and the period of near zero interest rates now consigned to history with the bank warning that rates could remain at this level for some time. if you asked the question, yes, when i rates going to come down, my answer is, we are going to need much more solid evidence that inflation is going to come down and i mean that people can rely on it. the housing market correction may have started already? we are seeing some adjustment in the housing market. prices are not coming off their peak but we should avoid preaching crisis at this point. it is not that. at the law courts in salisbury, steve is arriving at a possession hearing.